How to Sell a Home on Your Own
Learning how to sell a home on your own can be both challenging and rewarding. Those who master the art can save a bundle in realtor commissions. Those who do not take time to learn the intricacies of selling real estate can end up embroiled in legal battles or lose thousands of dollars in profit.
Many venues exist for learning how to sell a home on your own. The Internet is the preferred choice for most. However, libraries are another excellent choice and many loan real estate courses on DVD. Several private investors and real estate gurus offer home selling courses and seminars. Before whipping out your credit card, engage in due diligence to ensure the information you are buying is from a credible source.
When houses are sold through the homeowner, they are referred to as for sale by owner real estate or FSBO properties. Private sellers must engage in the same criteria as realtors. Home inspections and appraisals must be obtained and sales contracts drafted.
A good source for obtaining FSBO information is through real estate clubs, forums and social networks. These groups are comprised of real estate investors, agents, lawyers, homeowners and various realty professionals. They provide the opportunity to network with others to obtain information and resources to help organize and close real estate transactions.
Once appropriate information is gathered, homeowners will need to develop a real estate marketing plan. An abundance of marketing tools exist to help homeowners obtain vast exposure. This range from establishing a real estate website to creating flyers, embarking on a postcard marketing campaign or engaging in various types of real estate advertising.
The majority of FSBO marketing tools can be obtained online. Multiple resources exist for obtaining for sale by owner kits and real estate legal documents. Several FSBO websites exist which allow sellers to publish photos and information about their property.
It is important to realize the amount of competition in today's real estate market. With millions of vacant and distressed properties for sale, homeowners must take every measure to ensure their property stands out in the crowd.
In order to obtain the highest price, homeowners must be prepared to make necessary repairs and renovations. Invest time cleaning the house, applying fresh paint, removing debris from the premises, and sprucing up the landscape. Keep the outside as clean as the inside and take steps to provide the home with curb appeal.
When selling a home on your own, it is also important to engage in research to determine the price range of other homes for sale in the area. At present, the real estate market is a buyer's market. Sellers must price properties according to what the market will bear; otherwise they will never sell their home.
For sale by owner places everything in the seller's hands. Take time to become educated about how to sell a home on your own. Consult with real estate professionals and enlist the aid of a real estate attorney to ensure contracts are legally binding. Make certain you understand the process before placing a "For Sale" sign in your front yard. Otherwise, you could end up with more problems than ever imagined.
We encourage you to begin your house selling journey by browsing our homes for sale by owner article library. We publish new articles each week and invite you to subscribe to our mailing list to receive instant notification.
Published on February 15, 2010 at 02:31 AM